K Street Complex of Eateries and Nightspots Sold, New Owners Plan Restaurant

A restaurant complex in Downtown Sacramento that’s seen turnover in the last decade has a new owner.

Turton Commercial Real Estate announced Wednesday close of escrow at $5.125 million for 1000 K St., a 32,000-square-foot building with four to five restaurant and nightlife spaces.

“This is absolutely a massive win,” said Matt Axford, a director at Turton Commercial who was one of the brokers on the deal and said it took six years to come together. “It’s a good forecast for 2026.”

According to Caroline Lafler, a broker from TRI Commercial Real Estate Services in Roseville who represented the buyer, the new owners operate a restaurant called Kobe Teppanyaki & Sushi in Lincoln. She and Axford said they’re planning a similar concept for the empty restaurant space at 1000 K St., which is about 7,700 square feet.

Though that new concept is planned for next year, details such as more specific timing and the new restaurant’s name weren’t disclosed. Lafler said the new owners wouldn’t be available for comment until next week, and a message left for them at Kobe Teppanyaki on Thursday wasn’t immediately returned.

Axford said he believes the other tenants in the building, Social Nightclub, The Boiling Crab restaurant and Oishii Sushi & Heartbeat KTV Lounge, should remain in place with no changes.

With patio seating for the empty restaurant space, he said, “hopefully it’ll be there as a landmark on the corner.”

Part of a redevelopment project by CIM Group and David S. Taylor about 15 years ago, 1000 K St. initially had Cosmopolitan Cabaret, K-Bar and a Cafe Bernardo location among its tenants, the latter two operated by Randy Paragary in the 7,700-square-foot space.

About a decade ago, Cafe Bernardo made way for bar and grill Bennigan’s, which lasted until 2018. The Grid and then El Santo Cantina and Ultralounge came and went over the next four years. In that space, on the corner of K and 10th streets, there hasn’t been a tenant since 2022.

Real estate information site Reonomy shows George Wise, with an address in Los Angeles, as the most recent owner for 1000 K St. He bought it in 2015 for $7 million, records show. Wise couldn’t be reached for comment Thursday.

In addition to Axford, Scott Kingston of Turton Commercial and Mark Hefner of Marcus & Millichap worked on the deal on behalf of the seller.